Updated Dec 4, 2024
RFR Realty Refinances Gowanus Development Site In New York For $74M
175 3rd St, Brooklyn, NY 11215, USA & 175 3rd St, Brooklyn, NY 11215, USA
$74,000,000
$1,071/SF
Building Size
69,080 SF
Asset Type
Development Site
Closing
Apr 23, 2018
About this deal
AI
The property at 175-225 3rd Street in Gowanus, New York, has been refinanced for a total of $74,000,000. The property is a development site with a total area of 140,000 square feet. The previous use of the property was as a parking lot.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $74,000,000
- Address: 175-225 3rd Street, Gowanus, New York
- Market: Gowanus
In this deal, the landlord is RFR Realty, represented by Aby Rosen and Michael Fuchs. The lender for the transaction is Union Labor Life Insurance Company, represented by Joseph J. Hunt from ullico.inc
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93